Now I find this very interesting indeed, applicable no doubt to the other cryptocurrencies - how will this impact on crypto values when one knows that there is an algortithm out there guaranteed to make you rich? Need to think this one through folks, could be fundamental to how these cryptos are traded in future, and of course can sign up myself to use the algorithm!

< Appearing on BBC Two’s hit show, Dragons’ Den, two best friends from university pitched their idea for an automated bitcoin trading platform, called Bitcoin Trader. The idea was simple: allow the average person the opportunity to cash in on the bitcoin boom. Even if they have absolutely no investing or technology experience.

A user would simply make an initial deposit into the platform, usually of £250 or more, purchase a position in Bitcoin, and the automated trading algorithm would go to work.

The entrepreneurs intend to make money from their platform by charging a small commission on only the profits a user generates. They asked the Dragons for £200,000 for 25% of the company, valuing the company at £800,000.

To demonstrate the power of their company’s platform the entrepreneurs had Deborah Meaden deposit £250 live on the show.

“I’ve heard about Bitcoin and the massive amount of money you can make from it, but I’ve never bought any. I no idea where to start. This was really easy, I can just use my credit card to deposit money and it buys them for me.” Deborah said.

After her initial deposit of £250 was made, the trading platform went to work buying low and selling high. Within 3 minutes, she had successfully increased her initial funds to £323.18. That’s a £73.18 profit.

All the Dragons were immediately impressed by how easy it was to make money. The platform handles all the trading work automatically and because the price of Bitcoin is quite volatile, there are numerous opportunities to profit.

“Bitcoin is so hot right now and if even somebody like Deborah, no offence Deborah, can make money from it, I’m all in. I need to have a piece of this. I’m going to make a huge offer, £2 million for 25% of the company.” Peter Jones said.

Before the entrepreneurs even had a chance to respond to Jones’s offer, Deborah Meaden interrupted and said with a smile on her face: “I’ve gone up to £398.42 after just 8 minutes”.

Although at this point all 5 Dragons were ready to invested, a bidding war quickly emerged between Touker Suleyman and Peter Jones. Suleyman improved on Jones’ offer, by £2.5 million for 25%, whereas Jones hit back with a revised valuation of £2.5 million for 20%, effectively valuing the company at £12.5 million.

After some minor back-and-forth discussion, the entrepreneurs quickly accepted, making this the biggest deal in the history of Dragons’ Den.

We decided to put Bitcoin Trader to the test, to see if it was really possible for you to make money using the platform.

We quickly discovered that the platform charges a commission of 2% on profits a user generates and you need to make a minimum deposit of £250 to get started. That money will be your initial investment, which the trading software uses to trade.

Also, we learnt that Bitcoin Trader makes money by buying when the price goes up AND when the price goes down. This is know as short-selling and the platform handles it for you automatically.

I decided to sign up for an account with Bitcoin Trader, I made the initial deposit £250 and set my account to active.

MY RESULTS WITH BITCOIN TRADER AFTER 7 DAYS
On the show, Deborah was able to make £73.18 in profit after 3 minutes, for me, it took much longer. The platform took 20 hours to generate a £80.19 profit, which still impressed me alot! I’ve never puchased Bitcoin before and never made a trade in my life, yet here I was able to generate profits.

I spent about 5 minutes a day checking my results and after 5 days, the platform had traded up to a massive total of £630. That is a 252% increase in my initial deposit. I was starting to become a true believer in this platform.

After 7 Days my initial investment had traded up to £1,930. At this point, my mind was racing with possibilities of all the things I could spend that money on. This is more money than I made at work for the week and I spent less than 30 minutes checking the platform.>

“Bitcoin is so hot right now and if even somebody like Deborah, no offence Deborah, can make money from it, I’m all in. I need to have a piece of this. I’m going to make a huge offer, £2 million for 25% of the company.” Peter Jones said."

‘It?s a complete SCAM & my legal team are on it now. Thanks for letting me know RT @RegalRacing: @dragonjones Peter you are quoted as buying 20% of@bitcoin trader in an advert to@get investors on the company- did you ? As other sites suggest it?s a scam, can you confirm ? Cheers’ - Peter Jones

It’s a complete SCAM & my legal team are on it now. Thanks for letting me know RT @RegalRacing: @dragonjones Peter you are quoted as buying 20% of@bitcoin trader in an advert to@get investors on the company- did you ? As other sites suggest it’s a scam, can you confirm ? Cheers

Typical of Les, gullible as you say, he falls for this online cr2p all the time. I keep telling him to check his sources. The link was so obviously not a reputable news source just an ad to pull in the unwary punters. I might just say that posting ads is a breach of this message board’s t&cs.

Hopefully, no-one followed up on Les’s recommendation. If they did, perhaps Les might reimburse their losses?

Les keeps telling us he makes loadsamoney. It is very unlikely to be true when he obviously has such poor judgement.

<Good one Les! I have no doubt you knew it is a fake article, one of your pranks, some of the regulars here will have believed it. All good fun.>

Spot on Mon Ami, it was a prank. Everyone on this board had gone asleep since my post last Saturday, so thought I would wake them up from their stupor, I knew they would be out their dozing in front of their computer screens being a Bank Holiday.

It had to be something so ludicrous it would be spotted as such, associated with something I was interested in, Bitcoins, so I could appear to take it seriously. Sure enough the usual gullible suspects fell for it. As you say all good fun, they will get over it in time., like in a year or two perhaps …ha! ha!